Crude oil is breaking down even more beautifully than I dared dream, with a bearish engulfing pattern so far this morning. Who knows, maybe we’ll break that lower trendline with some gusto.

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Crude oil is breaking down even more beautifully than I dared dream, with a bearish engulfing pattern so far this morning. Who knows, maybe we’ll break that lower trendline with some gusto.

I’ve mentioned Abercrombie & Fitch repeatedly in years past as a great long-term short candidate, and it’s unfolded beautifully. Take a look at how, almost incredibly, the stock has come full circle to its financial crisis lows. Given the extraordinarily lofty state of the market in general, however, I think this stock isn’t done falling.
